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22922 Via Cereza #1C Mission Viejo, CA 92691

3 Beds 2 Baths 1,141 sqft Built 1971

$452,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $396.14
  • 5 Days on Market
  • MLS # : OC21012574
  • Updated Date : 01/20/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,141 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Affordable and roomy one level condo, feels like a single-family home. with no one below or above (no stairs). This unique end unit is a perfect place to entertain your guests in the spacious living room or dining area with sliding glass doors to the private fenced patio. The desirable location overlooks a park-like setting, a peaceful greenbelt view from several bedrooms. There are generously sized rooms throughout with large sunny windows. Unwind at the end of the day in the spacious master bedroom with a walk-in closet, master bath with a large shower. Some additional features include: separate laundry room, garage plus assigned parking. HOA amenities include pool, spa, park, Lake Mission Viejo membership. The Home is newly painted, and ready to move in and is conveniently located to schools, shopping, restaurants, freeways, FHA and VA approved!

SEE MORE

MARKET HIGHLIGHTS

  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Aliso Villas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $150k787k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Aliso Villas

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800300032003400Rent in $10813492

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Glen Yermo Elementary School Primary Regular 388 15 5
Los Alisos Intermediate School Middle Magnet 948 39 6
Mission Viejo High School High Magnet 2,438 92 8

Glen Yermo Elementary School

  • Education Level: Primary
  • # of students: 388
  • # of teachers: 15
5
GreatSchools Rating

Los Alisos Intermediate School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 39
6
GreatSchools Rating

Mission Viejo High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 92
8
GreatSchools Rating
 

$406,800$497,200$452,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,570
Property Tax -$389
Property Insurance -$55
HOA -$392
Property Management Fees -$122
CASH FLOW
-$38

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$452,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,530

INVESTMENT

$125,530

Down Payment
$113,000
Rehab Estimate
$5,750
Closing Costs
$6,780

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,570

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,000
Loan Amount $339,000
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$24,565

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,490

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $2,490

    COMP ESTIMATED VALUE
  • $2.18

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,5003$2,5004$2,5805$2,800
$2,800
RENT COMPS ANALYSIS
  • 22922 Via Cereza Mission Viejo, CA 1
    • 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $2.18
    •  
  • 26102 Via Pera Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1972
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.19
    •  
  • 22901 Via Cereza Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1971
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.19
    •  
  • 26322 Via Roble Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $2.15
    •  
  • 26372 Waterford Circle Lake Forest, CA 5
    • 3 beds 3 baths ∙ 1,274 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,274 Sqft ∙ Built 1984
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.20
    •  
PROPERTY LISTING DETAILS
Amy Mosley
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21012574
Last Updated: 01/20/2021
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